TriNANO Technologies

Nanocoating for Solar Panels for better energy output

Key Summary: TriNano Technologies has developed an innovative nano-coating for both new and existing solar panels, boosting energy output by 4-9%, reducing cleaning requirements, and significantly extending panel lifespan.

Customer Problem

• Efficiency Loss: Theoretical efficiency of solar panels is 21-22%, but practical efficiency drops to 15-18% under normal conditions due to dust, grime, shadows, and temperature variations.

• Maintenance Costs: High Maintenance costs due to frequent cleaning and water usage. Panels require regular maintenance to avoid degradation.

• Panel Lifespan: Gradual efficiency degradation over time reduces ROI for solar installations, particularly in harsh environments like deserts.

How the Company Solves the Problem

• Innovative Nano-Coating: TriNano has developed a solid-state nano-coating made of inorganic ceramic/oxide, for both new and existing solar panels. This coating boosts energy output by 4-9%, reduces cleaning requirements, and significantly extends panel lifespan.

• The nano-coating provides three core functionalities:

  • Light Trapping: Enhances light absorption by minimizing reflection losses.

  • Self-Cleaning: Hydrophilic surface prevents the buildup of dirt, oil, and bird droppings, reducing maintenance needs.

  • Anti-Reflection: Lowers solar glare, further improving panel energy output.

• Operational Impact:

  • Increases energy generation by 4% - 9%.

  • Reduces panel cleaning frequency (e.g., from twice a week to once every two months).

  • Extends panel lifespan by maintaining lower temperatures (-2°C to -3°C).

Traction and Key Metrics

• Pilot Success: Proven outcomes in 10 MW installations (e.g., Rajasthan solar plant).

  • Generated additional 1,080 MW-hours/year with $64,800/year in revenue.

  • Achieved payback for customers in less than 2 years.

  • Equivalent to powering 4,200 homes/year for free.

• Partnerships: Pilots completed with Toyota Motors, PTT Group, Tata Power, and rooftop applications. Repeat orders for 80 MW capacity secured.

• Revenue Growth: $200,000 generated in 2023, with inquiries for $2.5 million worth of additional projects.

Market Opportunity

• TAM (Total Addressable Market): $10 billion globally.

• SAM (Serviceable Addressable Market): $3.5 billion, focused on solar panel retrofits and manufacturing.

• SOM (Serviceable Obtainable Market): $950 million in the short term.

• Solar Energy Industry Growth:

  • India: 102 GW installed capacity.

  • U.S.: 115 GW installed capacity.

  • Global solar energy market valued at $223.3 billion in 2023, projected to grow exponentially.

Competitive Landscape

• Key competitors include Solar Sharc (UK), Simix (Singapore), and Chemitek (Portugal).

• TriNano’s Edge:

  • Offers both self-cleaning and efficiency enhancement properties.

  • Solid-state coating with a 5+ year lifespan compared to 2 years for most competitors.

  • Applicable for existing solar plants and new manufacturing.

  • Patents registered in India and PCT countries (pending in the U.S.).

6. SWOT Analysis

• Strengths:

  • Proprietary, scalable nano-coating technology.

  • Strong pilot results and fast ROI for clients.

  • Environmentally sustainable and cost-saving.

• Weaknesses:

  • Currently reliant on manual coating processes; automation needed.

• Opportunities:

  • Rapidly growing solar markets in India, the U.S., and the Middle East.

  • Working with Solar Panel Manufacturers

  • Potential applications in glass facades, windshields, and green hydrogen.

• Threats:

  • Patent challenges in USA

  • Entry of larger players with established supply chains.

7. Investment Considerations

• Stage of Growth: Pre-scale, with proven technology and commercial pilots.

• Funding Ask: Seeking $1.5 million in seed funding (next round: $2 million in 9 months).

• Utilization:

  • 66% for automation/robotic coating machines.

  • 20% for R&D and facility expansion.

  • 5% for certifications and registrations.

• Exit Strategy: Strong potential for acquisition by solar manufacturing giants or IPO in green technology markets.

8. General Company Information

• Founders: Dr. Harsh Sethi (materials engineer with prior entrepreneurial success) leads a highly experienced team of nanotechnology and green energy experts.

• Headquarters: Maharashtra, India.

• Advisory Board: Includes researchers and industry veterans from leading institutes.

• Website: TriNano Technologies.

9. Additional Insights

• Sustainability Impact:

  • Reduces water usage by up to 55% in large solar installations.

  • Contributes significantly to global decarbonization goals (e.g., COP28 targets).